British Airways owner to cut flights due to quarantine rules
British Airways’ parent company IAG has announced it is cutting flights due to coronavirus travel restrictions and quarantine requirements.
Between October and December the group expects to operate 60% less capacity than during the same period last year, compared with a previously planned reduction of 46%.
The firm said it continues to expect it will take until at least 2023 for passenger demand to recover to 2019 levels.
It saw an “almost complete cessation of new booking activity” in April and May due to the pandemic, while the easing of country lockdowns sparked an increase in ticket sales in June.
Since July there has been an “overall levelling off of bookings”, IAG said.
Demand for short-haul travel has “fallen slightly” following the UK and other European countries reimposing quarantine requirements for travellers returning from specific countries such as Spain.
IAG said it will raise 2.7 billion euro (£2.5 billion) through selling new shares.
The equity raising was first announced in July.